HI SR78

Urges the Governor and United States Foreign-Trade Zones Board to develop and establish a Foreign Trade Zone licensed to the Office of Hawaiian Affairs at Kakaako Makai parcels conveyed to OHA under Act 15, Session Laws of Hawaii 2012.

Identifies Foreign Trade Zones as an economic development opportunity to generate revenue for the Office of Hawaiian Affairs and benefit native Hawaiians through commercial and income-generating properties.

Outlines Foreign Trade Zone benefits including customs duty deferral, tariff optimization for manufacturers, quota storage capabilities, reduced security and insurance costs, and drawback refund opportunities for duty paid on exported components.

Notes that Foreign Trade Zone operations provide opportunities for import/export banking, international trade participation, and nation-building through international commerce activities.

Directs transmission of certified copies to the Governor, OHA Board of Trustees Chairperson, United States Foreign-Trade Zones Board Chairperson, and each county mayor.